MACRO ECONOMIC NEWS

TODAY, YOU ARE DESTINED TO SET EXAMPLES; FOR TOMORROW. WISHING A GLORIOUS DAY AHEAD.

Macro Economic News 10 Dec 2019

 

For the first time, U.S. manufacturing workers with college degrees will soon outnumber those without. It’s part of a shift to automation that has increased factory output, opened opportunities for women and reduced prospects for the nation’s lowest-skilled workers. President Trump reported significant progress on reaching a deal with House Democrats and Mexican officials on a revised version of a new North American trade pact. A stalemate between the U.S. and other members of the World Trade Organization, including the European Union and China, stands to cripple the organization’s top court, threatening the global body’s survival. Macau casinos face biggest threat to growth in five years, whereas households have signalled plans to cut back on their spending. Japan economy grows faster but slowdown fears loom while Australia is expected to post worst profit growth in asia pacific next year. Swap market indicates that India may be done with rate cuts coinciding with Saudi Arabia not getting bullish about oil in its 2020 budget.

 

FINANCIAL TIMES

[I]  Japan economy grows faster but slowdown fears loom

[I]  South Africa to impose its biggest rolling power blackouts

[I]  China launches state enterprise to manage pipelines

[I]  Worrying signs that a great global deregulation has begun

[I]  Moscow is being forced to shift its energy strategy

[I]  Human rights are suffering an onslaught of attacks

 

REUTERS

[I]  U.S. negotiators set to make last-minute trip to Mexico to pin down USMCA deal

[I]  South Korea shuts down 10 coal-fired power plants to curb pollution

[I]  Australian consumers will spend tax windfall in time - RBA

[I]  Mexico asks Pelosi to act on trade deal, business groups wary

[I]  Erdogan says Turkey to attain single-digit interest rates, inflation in 2020

 

BLOOMBERG 

[I]  India May Be Done With Rate Cuts, Swap Markets Show

[I]  How Nearly Two Decades Of Fed Policy Contributed To Bubbles, Busts, And A Boom In Debt

[I]  Macau Casinos Face Biggest Threat to Growth in Five Years

[I]  Saudi Arabia Isn’t Getting Bullish About Oil in Its 2020 Budget

[I]  Australia to Post Worst Profit Growth in Asia Pacific Next Year

[I]  Trump Agriculture Chief Sees China Spared New Dec. 15 Duties

 

WALL STREET JOURNAL

[I]  American Factories Demand White-Collar Education for Blue-Collar Work

[I]  Paul Volcker, Fed Chairman Who Tamed Inflation, Dies

[I]  Trump Upbeat on Trade Deal With Mexico, Canada

[I]  Five Cities Account for Vast Majority of Growth in Tech Jobs, Study Finds

[I]  ‘The WTO Is in Crisis’: Dispute Puts Global Trade Regulator at Risk

[I]  In the Next Downturn, Fiscal Policy May Have to Step Up

[I]  A Remembrance: The Pragmatism of Paul Volcker

[I]  NY Fed Survey Finds Inflation Expectations Rise, Spending Plans Drop

 

BUSINESS LINE

[I]  Salary delays, business downturn — top reasons for EMI default

[I]  Japanese Trade Minister to discuss RCEP pact with Goyal

[I]  US continues to block appointment to key WTO body

[I]  India rises one rank to 129 in human development index

[I]  High-level panel to monitor long-term irrigation fund use: FM

[I]  No threat of job losses in auto sector: Minister tells RS

[I]  Ministerial panel on IGST settlement re-constituted sans FM

 

ECONOMIC TIMES

[I]  Economy may soon get another booster dose

[I]  Govt moves to settle all data doubts for good

[I]  Additional 2% export benefits to end Dec 31; Government yet to give roadmap for garments, madeups

[I]  Major banks, FIs largely optimistic on economy

[I]  'India took only five years to move from USD 2 to USD 3 trillion economy'

[I]  Recent cut in corporate tax rate was done to boost investments: CEA

 

BUSINESS STANDARD

[I]  Equity flows see sharpest dip in 3.5 years, slip 78% in November

[I]  India rethinks its coal future, plans to reduce import dependence by 2031

[I]  Central GST collection falls short of budget estimate by 40% during Apr-Nov

[I]  Tea Board considering new export cess to fund promotion and marketing

[I]  Investors need to brace for higher volatility, lower returns in 2020: UBS

[I]  At $1.6 trn a day, EM currency trading outpaces peers, rupee deals double

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11979;  USDINR DGCX: 71.1300;  DJIA Mini: 27928;  FTSE 100 Fut: 7242;  NIKKEI 225 Fut: 23433;  EUR-USD: 1.1069; Crude Oil (WTI): 58.98;  Gold (Spot): 1461

 

Best Regards, ARBIND
10 Dec 2019